Global petrochemical prices fell about 18 per cent in December, the biggest month-over-month drop since November 2008, even as energy and naphtha prices continued to slide, according to a report.

The prices in the more than $3-trillion-plus petrochemicals market, expressed as a monthly average, spiraled $222 per tonne from November to $984 per tonne in December, according to the just-released monthly (PGPI).

This is the lowest level since June 2009, when global markets were recovering from the 2008 collapse of Lehman Brothers.

The PGPI is a benchmark basket of seven widely used petrochemicals and is published by Platts, a leading global energy, petrochemicals and metals information provider and a top source of benchmark price references.  

On a year-over-year basis, petrochemical prices were down 30 per cent compared with the same month last year. - TradeArabia News Service